Business
Branded Legacy, Inc. Board Of Directors Approves Reducing Authorized Common Shares By 300 Million
Branded Legacy, Inc. Board Of Directors Approves Reducing Authorized Common Shares By 300 Million.
About this update from Branded Legacy Inc.
[{"type":"text","content":"\n Orlando, FL, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of cannabinoid-infused products from CBD topicals and tinctures to edibles is pleased to announce the Board of Directors approval to reduce its authorized shares by Three Hundred Million (300,000,000). Branded Legacy, Inc. expects to receive majority shareholder consent soon, but has already received board approval for the reduction in its authorized shares. The reduction will bring the Authorized Common Shares down to Six Hundred Million (600,000,000). The Company has been working to improve its share structure as well as increase its shareholder value through many transactions such as reducing its debt as well as reducing the amount of issued and outstanding common shares. The Company has lowered its liabilities by Four Hundred and Thirty-Six Thousand One Hundred and Nineteen dollars ($436,119) in 2022 and has reduced its issued and outstanding common shares by Two Hundred and Two Million (202,000,000) in the month of August. This brings the current issued and outstanding shares down to 236,982,816. Brandon Spikes, chairman of Branded Legacy, Inc., stated, “I couldn’t be more pleased with the progress that we have made. Our shareholders are very important to us, and we are diligently working to ensure the success of this Company.” The Company recently posted on OTC Markets, supplemental information regarding the reduction of liabilities as well as the exchange agreements lowering the issued and outstanding common shares. All information can be found here: https://www.otcmarkets.com/stock/BLEG/disclosure  About Spikes CBDX: Spikes CBDX is a line of CBD products designed to assist athletes perform better, recover faster, and avoid injuries. The Company believes that post workout recovery, with Spikes CBDX products, can lower inflammation, aid in making your body stronger, and help recover from injuries naturally. The CBD line also targets individuals who are looking for pain relief, better sleep, faster recovery and lowering inflammation. Spikes CBDX provides tinctures, lotions, moisturizer, and cryo-gel roll-ons. To view all the Spikes CBDX products please visit: spikescbdx.com.   About Elev8 Hemp: Elev8 Hemp’s mission is simple: craft the ...